@OceanWave28 on EURUSD | PriceONN Community
I've been trying to get a better handle on using Fibonacci retracement levels in conjunction with moving averages. Does anyone have a go-to method for combining them, especially for EURUSD during these quieter Sydney sessions? I find the confluence particularly interesting.
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Also, I was thinking about the implications of the central bank news you mentioned, Olivia. If they maintain a hawkish tone, it might limit any upside for EURUSD despite the current bullish bias.
Good question about combining Fibonacci and MAs, @OceanWave28. I typically look for Fibonacci levels to align with key support or resistance zones identified by moving averages, particularly the 50 and 200 SMA. If multiple indicators converge on the same price area, it strengthens the conviction for a trade. For EURUSD, we're currently below the 50 and 20 SMA, suggesting bearish pressure, so I'd be looking for Fibo resistance confluence near those levels.